Resignation of Statutory Auditor
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SGL Resources Ltd has informed BSE that M/s. Manoj Acharya & Associates, Chartered Accountants (FRN: 114984W) has resigned as the Statutory Auditor of the company, effective 23 June 2025. The auditor cited pre-occupation in other assignments as the reason for stepping down. Notably, the auditor was appointed only on 18 June 2025, with the term originally scheduled to run until 30 September 2025 — meaning the resignation came just 5 days into the tenure. The company has confirmed there were no disagreements with the management on financial reporting or other matters, and the Board of Directors was informed. The communication was signed by Kantilal Ladani, Whole Time Director & CFO.
For shareholders, the very short tenure of the auditor (just 5 days from appointment to resignation) is unusual and may raise minor governance questions, though no financial reporting disputes have been flagged. The company will need to appoint a new statutory auditor soon, and any delay could affect audit timelines. In the near term, this is unlikely to materially move the stock but is worth monitoring for further updates on the new auditor appointment.